The Gorman-Rupp Company (NYSE:GRC) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,057 shares of the industrial products company's stock after selling 12,346 shares during the quarter. ProShare Advisors LLC owned 0.73% of Gorman-Rupp worth $7,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Gorman-Rupp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company's stock worth $83,614,000 after buying an additional 20,407 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gorman-Rupp by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,454 shares of the industrial products company's stock worth $51,020,000 after buying an additional 3,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Gorman-Rupp by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company's stock worth $26,661,000 after buying an additional 38,191 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Gorman-Rupp by 11.6% in the fourth quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock worth $8,463,000 after buying an additional 23,158 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gorman-Rupp by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company's stock worth $7,051,000 after buying an additional 16,334 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th.

Gorman-Rupp Price Performance

NYSE GRC traded down $0.92 during trading hours on Wednesday, reaching $37.26. The company's stock had a trading volume of 53,307 shares, compared to its average volume of 79,926. The firm has a market capitalization of $979.58 million, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.54 and a beta of 1.20. The Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $43.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company's 50-day moving average is $35.54 and its two-hundred day moving average is $37.94.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. The company had revenue of $163.95 million during the quarter, compared to analysts' expectations of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. On average, equities analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.99%. Gorman-Rupp's payout ratio is 43.79%.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company's products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.